Hi Bill,sorry - I don't get your point.If I agree to the contract and penalties involved, then later swap my AT&T iPhone over to Verizon and pay my dues...what ethical lapse have I committed ?

Bryan,I think from a cashflow perspective (income reductions that have happened to people in the recession) he was unable to pay them back, at the going rate, so he let them lapse.

I have clients that opted to pay their insurance by themselves and often times see them lapse because they frankly just forgot.

The bank will assign the property to a broker and start to entertain the "Short Sale Process" which also may take several bids and more time lapses.

A higher amount of earnest money would benefit me, but only if the buyer let the new contingency period lapse and then did not get the loan.

The idea is to not let that very short time frame lapse before you get the doc to send paperwork.

It has time and again, and once we get through this current buyers market, the sellers market will return in the future creating more appreciation.No one has ever said that you can not put food on the table with appreciation.To refresh your memory lapse, you did!

Assuming a property is intended as a long term hold you need to distinguish between two categorizes;Immediate Repairs - Broken and needs to be fixed as part of purchase, setting its age to 0yFull & Lapsed life time - Will need to be replaced at some pointAssuming you do not want to have a 'cash call' (as this will reduce your overall long term returns), for each item on a CAPEX list you need to go through the exercise of figuring out where it is in its life cycle and how much it will cost to replace / do.

I let my license lapse since I only did it part, part time.

I don't think increasing rent now is a good idea, I would let the leases lapse and allow the tenants to be month to month until the rent freeze is lifted and the the world is a little closer to normal.